DA Davidson Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR - Get Free Report) had its price objective hoisted by investment analysts at DA Davidson from $435.00 to $465.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. DA Davidson's target price would suggest a potential upside of 18.59% from the stock's previous close.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company raised their target price on CyberArk Software from $425.00 to $500.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Cantor Fitzgerald restated an "overweight" rating and set a $400.00 target price on shares of CyberArk Software in a report on Tuesday, May 13th. Truist Financial reduced their target price on CyberArk Software from $450.00 to $425.00 and set a "buy" rating on the stock in a report on Monday, March 31st. JMP Securities raised their target price on CyberArk Software from $390.00 to $480.00 and gave the stock a "market outperform" rating in a report on Friday, February 14th. Finally, Morgan Stanley restated an "equal weight" rating on shares of CyberArk Software in a report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, CyberArk Software currently has a consensus rating of "Moderate Buy" and an average price target of $416.79.

CyberArk Software Trading Down 0.9%

CyberArk Software stock traded down $3.47 during mid-day trading on Thursday, hitting $392.12. The stock had a trading volume of 451,985 shares, compared to its average volume of 554,411. The stock has a 50-day simple moving average of $358.12 and a two-hundred day simple moving average of $351.07. The stock has a market capitalization of $19.38 billion, a PE ratio of -201.09 and a beta of 0.99. CyberArk Software has a 12 month low of $230.00 and a 12 month high of $421.00.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.19. CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. The business had revenue of $317.60 million for the quarter, compared to analysts' expectations of $305.57 million. During the same quarter last year, the business earned $0.75 earnings per share. The firm's quarterly revenue was up 43.3% compared to the same quarter last year. Sell-side analysts expect that CyberArk Software will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp raised its position in CyberArk Software by 6.1% in the 4th quarter. Van ECK Associates Corp now owns 17,870 shares of the technology company's stock valued at $5,953,000 after buying an additional 1,035 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of CyberArk Software during the 4th quarter worth approximately $218,000. Envestnet Portfolio Solutions Inc. increased its position in shares of CyberArk Software by 16.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,274 shares of the technology company's stock worth $1,091,000 after purchasing an additional 471 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of CyberArk Software during the 4th quarter worth approximately $18,106,000. Finally, Balyasny Asset Management L.P. increased its position in shares of CyberArk Software by 60.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 151,720 shares of the technology company's stock worth $50,546,000 after purchasing an additional 56,937 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

About CyberArk Software

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sells software-based identity security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager, which offers risk-based credential security and session; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide secure access to third-party vendors; Dynamic Privileged Access, a SaaS solution that provides just-in-time access to Linux Virtual Machines; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Secure Desktop, a solution that protects access to endpoints.